Globalization

3. The part of a country's total debt that is owned by foreign creditors
7. Goods and services produced in other countries and sold domestically
11. Goods and services produced domestically and sold in other countries
12. A wealthy, industrialized country in which most people are above poverty
14. A country that suffers from severe poverty and low standards of living
15. The cancellation of all or part of a debt

1. The process by which a country makes economic progress and raises its standard of living
2. The trading of one national currency for another
4. The system of economic interaction among the countries of the world
5. The movement of money into and out of a country through foreign investment and other activities
6. The difference between the value of a country's exports and the value of its imports
8. A condition in which people are too poor to mee basic survival needs
9. A tax on imported goods designed to protect domestic producers from foreign competition
10. The policy establishing trade barriers to shield domestic markets from foreign competition
13. A low- to medium-income country in which most people have less access to goods and services